A.M. Best has revised the issuer credit rating outlook to stable from negative and affirmed the financial strength rating of “A (Excellent) and the issuer credit rating of “a+” of Nuclear Electric Insurance Limited (NEIL).
According to A.M. Best, the ratings reflect NEIL’s strong capital position, operating strategy and enterprise risk management culture in the US nuclear power generating industry.
NEIL provides the majority of the nuclear utility property insurance coverage in the US.
A.M. Best noted that partially offsetting these rating factors are the company’s primary focus on catastrophic property risk and relation business interruption claims, and the financial stress this could cause in the unlikely event of two full-limit losses.
